Yep, thats a classic H&S.
Soon enough one of two things will happen.
Either bulls defend this yellow area, especially if they are in with size at the top. or bears will take over.
So far iam not biased to short, but waiting for confirmation.
Also watch out, because sometimes whales just push the price down to convince everyone that they are selling, then push the price upwards.
Soon enough one of two things will happen.
Either bulls defend this yellow area, especially if they are in with size at the top. or bears will take over.
So far iam not biased to short, but waiting for confirmation.
Also watch out, because sometimes whales just push the price down to convince everyone that they are selling, then push the price upwards.
ノート
Confirm on lower timeframes. There is a solid uptrend that i think it will break. But so far the reaction to it is not that strong yet. Basically you are looking for a bullish candle to slice through the newly made resistance (to invalidate my analysis), or buying weakness at the resistance to validate it.
ノート
As analyzed. Lets see if this is just a correction or a full reversal. Dont listen to the idiots who says sell everything on Social media. GDP numbers came positive today, so likely this should be just a correction (i hope).
Until the price really starts to trade under 24k, then i consider we sill in a correction. Given the fact that there is tons of liquidity above which the price should return to, soon enough.
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